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“Private parties can also set up industrial estates”

RANIPET: Private parties can also set up industrial estates, for which they will be eligible for a subsidy of 20 per cent, subject to a maximum of Rs.one crore, according to V. Ramasubbu, General Manager, District Industries Centre (DIC).

Participating in an entrepreneurs’ meet organised by the Small Industries Development Bank of India (SIDBI), Chennai, in association with the Vellore District Small and Tiny Industries Association (VEDSTIA) at the SIPCOT Industrial Estate here on Thursday, Mr. Ramasubbu said that hitherto, industrial estates were established only by the State Industries Promotion Corporation of Tamil Nadu (SIPCOT) or the Tamil Nadu Small Industries Development Corporation (TAN-SIDCO). Now the Centre has relaxed the rules and permitted private individuals or organisations to set up industrial estates. He said subsidy of Rs.one crore would be provided to a private party setting up an industrial estate on an area of 50 acres of land.

R. Amirthakatesan, president, VEDSTIA, requested K. Natarajan, General Manager, SIDBI, Chennai, who was the chief guest, to take steps to open a branch of SIDBI in Vellore to enable industrial units, individuals and organisations in places such as Tirupattur to avail themselves of the bank’s facilities. At present, the SIDBI extended its services only to units/associations/entrepreneurs located within a 100-km radius, with a relaxation of up to 20 km, thus helping units within a 120-km radius. Since SIDBI, Chennai, was the nearest branch for units/entrepreneurs/associations in Vellore district, those located in Tirupattur would not be able to avail of the bank’s services since Tirupattur was 220 km away from Chennai. Those in Tirupattur would be able to avail of SIDBI’s services if it opened a branch in Vellore, which was only 80 km away, he said.